Labor issues, weather, fuel prices put major crimp in airlines' profit

Article Abstract:

High fuel prices, flight delays, bad weather and labor problems all contributed to a 50% decline in airlines' net profits in 2000, according to the Air Transport Assn (ATA). The ATA said the US' 48 largest airlines earned $2.7 billion in 2000, slightly less than half of the $5.5 billion they earned in 1999. Airlines spent an additional $5.4 billion on fuel costs alone in 1999. Snow removal was also a major cost item for United and American.

---

Delta warns of loss in quarter

Article Abstract:

Delta Air Lines Inc has predicted a loss between $85 million and $110 million, or 70 cents to 90 cents per share in the first quarter of 2001, compared with earnings of $179 million in the year earlier period. The airline attributed the loss, which will be its first quarterly loss since March 1995, to problems with its pilots union and a softening US economy. In addition, the airline anticipates the problems to affect its financial results through the June 2001 quarter.

Delta Air Lines Inc.

---

Airlines edge near bankruptcy, cut flights

Article Abstract:

United States airlines, already suffering in a slow economy, now face bankruptcy and are forced to cutback service after September 11th's terrorist attacks.

Air Transportation, Scheduled, And Air Courier Services

Similar abstracts:

• Abstracts: Lower prices, weaker refining margins sink Petro-Canada profit. PanCanadian Petroleum profit soars on high oil, gas prices
• Abstracts: Warm spring, higher energy costs bite deeply into B.C. Power's profit. Alberta businesses get rebate to cushion cost of electricity
• Abstracts: Digital doctoring; the race is on to put a computer into every physician's hand. Putting a new soul in your PC
• Abstracts: Group is said to accuse Pacific Bell of monopoly; Internet service providers wage fight over access to digital subscriber lines
• Abstracts: Rockport is trying to change its stodgy image with a redesign of its shoes and a new campaign

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.